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  • Interest rates may rise sooner than expected | Mortgages for Business
    you will almost certainly be left believing that the Governor said that a rise in Bank Rate is imminent Indeed the BBC s economics editor Robert Peston said on Radio 4 s World at One yesterday that he expects an interest rate rise in the next two to three months But as has happened before the commentators have failed to listen to what the Governor actually said and have just given a knee jerk response in reporting a potentially misleading headline Sure he did say that interest rates could rise sooner than financial markets expect but then spent five minutes qualifying the statement including the following passage At this point it is safest to conclude as the MPC has that there remains scope for spare capacity to be used up before policy is tightened and that a host of labour market capacity utilisation and pricing indicators should be watched closely to determine how that slack is evolving Growth has been much stronger and unemployment has fallen much faster than either we or anyone else expected at last year s Mansion House dinner So far this has been largely matched by indicators which suggest that there is more supply capacity in the labour market than we had previously thought As a result of these two welcome developments despite rapid jobs growth pay pressures and unit labour cost growth have remained subdued The MPC expects the rate at which slack is being eroded to slow during the second half of this year as output growth eases and productivity growth recovers But thus far there are few signs of a deceleration in output growth And a challenge in deciding when to begin normalising policy is that actual output can be observed but potential supply cannot That is why the MPC is monitoring a

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/june/interest-rates-may-rise-sooner-than-expected/ (2016-02-16)
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  • The buy to let saga continues | Mortgages for Business
    Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight The buy to let saga continues 08 04 14 Written by Jeni Browne Jeni Browne discusses why buy to let lenders impose age restrictions on borrowers She also looks at which lenders can help older borrowers Last week saw The Mortgage Works make a monumental change to its lending policy previously you could apply for a buy to let mortgage aged 84 and below and it could run to your 90th birthday Now there is no maximum age on when the mortgage can be repaid but you can be no older than 70 when it starts And no I have no idea where the logic is in this This worries me A large number of our clients fall into this group having accumulated over the years very successful property portfolios which now provides them with valuable income Yes these properties may have a mortgage but it doesn t mean that they aren t money spinners Most buy to let mortgage lenders impose a maximum age of 75 on maturity of the loan A lot of people have mortgages which end at this point and it doesn t make sense for them to simply sell up and repay the mortgage as the yield on the capital in the property is far stronger than what could be achieved in a savings account The good news is that there are still a number of options Keystone Buy to Let Mortgages will go to age 85 as will Aldermore Mortgages and Kent Reliance The Leeds and Mortgage Trust will go to 80 and then really you are into the age 75 bracket It s also worth noting that the minimum mortgage term is five years so essentially you need to knock

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/april/the-buy-to-let-saga-continues/ (2016-02-16)
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  • Implications of 15pc Stamp Duty Rate for Limited Companies | Mortgages for Business
    Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight Implications of 15pc Stamp Duty Rate for Limited Companies 21 03 14 Written by Simon Whittaker Simon Whittaker finance director explains why the extension of the 15pc stamp duty rate on properties costing over 500k purchased by limited companies won t affect most landlords financially Two years ago the Chancellor introduced the 15pc rate of Stamp Duty Land Tax on purchases of UK residential properties costing more than 2 million by Non Natural Persons basically limited companies and Limited Liability Partnerships This has been such a success for the Chancellor that this year the Budget extended the 15pc rate to properties costing over 500 000 However don t panic it does not apply to genuine property rental or property development activities it is just aimed at taxing the passive ownership of UK residential properties by limited companies where this has had the effect of avoiding SDLT and potentially Capital Gains Tax when the properties are ultimately resold SDLT for buy to let investors will remain at 4pc in the 500k 1m bracket and 5pc for properties in the next bracket up to 2 million although I doubt there are many of these Unfortunately though there is an administrative downside for investors using a limited company to purchase their buy to let properties Last year the Chancellor introduced a new annual tax known as ATED Annual Tax on Enveloped Dwellings on residential properties valued at over 2 million owned by companies and he is now lowering the value limits to 1 millon from 6 April this year and 500 000 next year This has the same

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/march/implications-of-15pc-stamp-duty-rate-for-limited-companies/ (2016-02-16)
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  • Why investors should consider five year fixed rate buy to let mortgages | Mortgages for Business
    more nuanced but they are there nonetheless With inflation expectations well anchored and in the absence of external price pressures the MPC can consistently achieve the 2 inflation target in the medium term only if the economy is operating close to capacity When inflation is at target but the economy is operating below potential levels of activity the MPC will in the absence of other influences set policy to stimulate demand to eliminate that spare capacity Thus rather than relying on a simple readily ascertainable metric such as unemployment rate the Bank will be monitoring a somewhat more nebulous metric namely spare capacity within the economy It estimates that this is currently 1 1 5 of GDP of which it attributes around half to the fact that unemployment at 7 1 is above the medium term equilibrium rate of 6 6 5 To my way of thinking that means 6 5 is the minimum rate at which the Bank thinks that a rise in interest rates might be warranted but unfortunately the Bank then goes on to muddy the waters somewhat by asserting that the medium term equilibrium rate is likely to drift down as unemployment falls further why don t they re assess it now So maybe the first point at which the Bank would consider a rise in interest rates is closer to 6 and that is not forecast by the Bank to be reached before 2017 The report goes on to say even when the economy has returned to normal levels of capacity and inflation is close to the target the appropriate level of Bank Rate is likely to be materially below the 5 level set on average by the Committee prior to the crisis Given that the headwinds weighing on the recovery are likely to persist for some time when Bank Rate does increase it is expected to do so only gradually Which sounds great until you read The actual path Bank Rate will follow over the next few years is however uncertain and will depend on economic circumstances Bank Rate may rise more slowly than expected and increases in Bank Rate may be reversed if economic headwinds intensify or the recovery falters Similarly Bank Rate may be increased more rapidly than anticipated if economic developments raise the outlook for inflation significantly This is either a statement of the bleedin obvious or else a major warning that none of the forecasts have any real credibility So if we ignore the uncertainties and confusions in the report and accept that market swap rates for three years ahead are a good guide to the likely outcome what does this mean for the future of interest rates Swap rates have been fairly volatile but based on the rates over 2014 to date the implied interest rates over the next 10 years are set out below and compared with the assumptions for the next three years used by the Bank in preparing its forecasts Forecasts Year Rate Range BR Forecast

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/february/why-investors-should-consider-five-year-fixed-rate-buy-to-let-mortgages/ (2016-02-16)
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  • Lower returns predicted for commercial property in 2015 | Mortgages for Business
    Calculator Research Case Studies Complex Buy to Let Index Buy to Let Mortgage Product Index Buy to Let Mortgage Costs Index Limited Company Buy to Let Index Property Investor Survey Money Markets FAQs FirstRate MFB TV Helping brokers with Buy to let mortgages Commercial mortgages Property development finance Bridging short term finance Case processing BrokerBusiness Case Studies Consulting Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight Lower returns predicted for commercial property in 2015 14 12 15 Written by Gary McKenna New research indicates that commercial property will deliver lower investor returns this year in comparison to 2014 According to the US commercial real estate company CBRE overall returns in commercial property are estimated to reach 14 across the UK in 2015 compared to 19 7 in 2014 Chris Brett Head of International Capital Markets at CBRE said Commercial property investments won t deliver the same return as in 2014 but our monthly index is likely to show total return of 14 for 2015 well ahead of the 8 2 average since 2000 London and the South East have been an engine for growth driving returns in both office and industrial markets The central London office market out performed the rest of the UK in 2015 with total returns reaching 16 8 so far this year in comparison to the 12 8 total returns seen across the UK s commercial property overall Midtown experienced the strongest growth delivering a return of 21 5 so far this year Central London has benefitted from overseas capital since the crisis but this is said to have reached a plateau

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/december-2015/lower-returns-predicted-for-commercial-property-in-2015/ (2016-02-16)
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  • Fleet Mortgages sets its sights on the commercial market | Mortgages for Business
    Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight Fleet Mortgages sets its sights on the commercial market 12 11 15 Written by Steve Olejnik Specialist lender Fleet Mortgages has announced that it will be moving into the commercial mortgage market in 2016 The lender which launched less than 12 months ago plans to enter underserved niche areas of the mortgage sector including larger portfolio lending and is currently developing the systems and processes to deal with the new launches The news follows the publication of Fleet s trading update for the nine months to September in which the lender reported that intermediaries have passed 800m worth of buy to let business through its system As a result the lender is guaranteed to hit lending targets for the year Fleet Mortgages has already passed its yearly run rate of 450m of lending and has set a renewed target of 750m for 2016 Bob Young CEO Fleet Mortgages said We now look forward to the next year where we will continue to focus on maintaining our commitment to the intermediary sector and ensuring we continue to deliver the buy to let products clients want and need It nearly goes without saying but we are incredibly pleased with the way the business has progressed throughout 2015 Indeed to have a new lender up and running and breaking even in less than 12 months is quite frankly astonishing The intermediary interest the placed applications and our lending volumes are right on line with our expectations but nonetheless we feel they are impressive from a standing start and show that with the right proposition experience service and products you are able to gain traction in this

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/november-2015/fleet-mortgages-sets-its-sights-on-the-commercial-market/ (2016-02-16)
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  • Commercial property investment hit record high in Q1 | Mortgages for Business
    Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight Commercial property investment hit record high in Q1 27 04 15 Written by Steve Olejnik With 13 6 billion invested into commercial properties in the UK during the first three months of the year this section of the industry promises strong performance for prospective property investors The level of investment represented a record for any first quarter period according to DTZ considerably ahead of the 11 2 billion invested in the first quarter of 2014 It is also well above the long term average investment for Q1 which stands at around 8 billion highlighting growing confidence in market conditions among property investors A seasonal fall from the fourth quarter was reported but this was as expected and did not provide much cause for concern According to figures commercial UK property investment totalled 18 1 billion in the final three months of 2014 and although a drop was experienced at the start of 2015 investor appetite remained strong in most regions over the first quarter In London record investments of 4 6 billion were noted while the rest of the UK witnessed investments that totalled a massive 9 1 billion Domestic investment in the central part of the capital city also remained strong totalling 1 7 billion in Q1 and representing only a marginal fall of 0 1 billion from the final quarter of 2014 Offices saw the highest level of investment overall with property investors pumping 5 5 billion into the sector in Q1 to provide its best start to a year in nearly a decade Investment transactions of retail property

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/april/commercial-property-investment-hit-record-high-in-q1/ (2016-02-16)
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  • Commercial property offers strong rents and capital growth in Q1 | Mortgages for Business
    finance Bridging short term finance Bridging loans Refurbishment finance Auction Finance Residential mortgages Residential mortgages Rates Loans Fees How to apply Types of mortgage Residential Stamp Duty Calculator Research Case Studies Complex Buy to Let Index Buy to Let Mortgage Product Index Buy to Let Mortgage Costs Index Limited Company Buy to Let Index Property Investor Survey Money Markets FAQs FirstRate MFB TV Helping brokers with Buy to let mortgages Commercial mortgages Property development finance Bridging short term finance Case processing BrokerBusiness Case Studies Consulting Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight Commercial property offers strong rents and capital growth in Q1 28 04 14 Written by Gavin Elley CBRE study shows continued strong performance in commercial property sector Business mortgage holders continued to see positive performance in the UK commercial property sector in the first quarter of 2014 according to new figures CBRE revealed that the office market maintained the trend of the last seven quarters by recording the strongest results in terms of rental value delivering growth of 2 6 per cent over the quarter and 8 5 per cent for the last year Central London saw the biggest expansion in the three months to March while the rest of the UK saw rents go up by 0 2 per cent after experiencing falls leading up to the middle of 2013 In the retail sector average rental value growth remained slow in the first quarter while overall capital values for high street shops picked up by 2 8 per cent CBRE research analyst Aleksandra Starczynska said the performance of commercial real estate is

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/april/commercial-property-offers-strong-rents-and-capital-growth-in-q1/ (2016-02-16)
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